Security National Trust Co. Decreases Holdings in Abbott Laboratories (ABT)

Security National Trust Co. cut its holdings in shares of Abbott Laboratories (NYSE:ABT) by 0.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 30,268 shares of the healthcare product maker’s stock after selling 71 shares during the quarter. Security National Trust Co.’s holdings in Abbott Laboratories were worth $1,472,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in ABT. Alpha Omega Wealth Management LLC boosted its position in Abbott Laboratories by 1.4% during the 1st quarter. Alpha Omega Wealth Management LLC now owns 26,754 shares of the healthcare product maker’s stock worth $1,188,000 after acquiring an additional 374 shares during the period. Geneva Advisors LLC lifted its holdings in shares of Abbott Laboratories by 72.2% during the 1st quarter. Geneva Advisors LLC now owns 966,783 shares of the healthcare product maker’s stock valued at $42,935,000 after buying an additional 405,465 shares during the last quarter. Cliftonlarsonallen Wealth Advisors LLC lifted its holdings in shares of Abbott Laboratories by 15.4% during the 1st quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 27,275 shares of the healthcare product maker’s stock valued at $1,211,000 after buying an additional 3,647 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Abbott Laboratories by 10.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 1,778,489 shares of the healthcare product maker’s stock valued at $78,945,000 after buying an additional 166,797 shares during the last quarter. Finally, Usca Ria LLC lifted its holdings in shares of Abbott Laboratories by 44.7% during the 1st quarter. Usca Ria LLC now owns 52,942 shares of the healthcare product maker’s stock valued at $2,351,000 after buying an additional 16,367 shares during the last quarter. Hedge funds and other institutional investors own 71.35% of the company’s stock.

Shares of Abbott Laboratories (NYSE ABT) opened at $55.47 on Friday. The company has a quick ratio of 2.41, a current ratio of 2.94 and a debt-to-equity ratio of 0.75. The company has a market cap of $94.64 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 2.04 and a beta of 1.06.

Abbott Laboratories (NYSE:ABT) last posted its quarterly earnings data on Wednesday, October 18th. The healthcare product maker reported $0.66 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The business had revenue of $6.83 billion for the quarter, compared to the consensus estimate of $6.72 billion. Abbott Laboratories had a net margin of 8.37% and a return on equity of 14.50%. The company’s revenue was up 28.8% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. equities research analysts predict that Abbott Laboratories will post 2.5 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Friday, October 13th will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 1.91%. The ex-dividend date is Thursday, October 12th. Abbott Laboratories’s payout ratio is 83.47%.

In other Abbott Laboratories news, insider Jaime Contreras sold 52,700 shares of the stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $51.97, for a total transaction of $2,738,819.00. Following the transaction, the insider now directly owns 58,739 shares of the company’s stock, valued at $3,052,665.83. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Stephen R. Fussell sold 196,550 shares of the stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $49.50, for a total transaction of $9,729,225.00. Following the transaction, the insider now directly owns 221,488 shares in the company, valued at $10,963,656. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 408,313 shares of company stock worth $21,205,356. Insiders own 0.76% of the company’s stock.

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ABT has been the subject of several research reports. Zacks Investment Research upgraded Abbott Laboratories from a “hold” rating to a “buy” rating and set a $58.00 price target for the company in a report on Friday, September 22nd. Cowen and Company reiterated a “buy” rating and set a $55.00 price target on shares of Abbott Laboratories in a report on Thursday, August 17th. BidaskClub lowered Abbott Laboratories from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Jefferies Group LLC reissued a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $58.00 price objective on shares of Abbott Laboratories in a research note on Friday, July 21st. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Abbott Laboratories has an average rating of “Buy” and a consensus price target of $56.81.

Abbott Laboratories Company Profile

Abbott Laboratories is engaged in the discovery, development, manufacture and sale of a range of healthcare products. The Company operates through four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products and Vascular Products. Its Established Pharmaceutical Products include a range of branded generic pharmaceuticals manufactured around the world and marketed and sold outside the United States.

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Institutional Ownership by Quarter for Abbott Laboratories (NYSE:ABT)

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